BioGaia
BioGaia - Firing on all cylinders, but Nestlé grumbles (ABG Sundal Collier)
2018-09-06 12:11
Strong growth evenly distributed over regions, segments
Nestlé playing hardball on royalties
New CEO from November
Strong organic growth across all regions and segmentsBioGaia delivered a strong Q2 with net sales of SEK 200.9m for y-o-y growth of 29%, with strong organic growth across all regions and segments. The Paediatrics segment sales were SEK 168.5m and Adult health SEK 32.1m, for 28% and 39% y-o-y growth, respectively. The strong performance occurred in all three geographic regions, with y-o-y sales growth of 78%, 23% and 24% in APAC, EMEA and Americas, respectively.
Guides to lower royalty revenue from Nestlé
BioGaia announced that it expects “significantly lower royalties from Nestlé as consequence of the ongoing negotiations on our royalty agreement which terminates at the end of the year”. BioGaia has not specified how much the royalties will decrease, but in 2017 revenue from royalties accounted for 15% of sales. However, Biogaia further discloses that the cooperation with Nestlé will continue and that negotiations for additional product sales are ongoing. BioGaia is currently delivering Lactobacillus reuteri to Nestlé for dairy products.
Isabelle Ducellier due to take reins in November 2018
In June 2018, BioGaia announced the appointment of Isabelle Ducellier as new CEO as of November 2018. Ms. Ducellier is already a member of the board of BioGaia and is the General Secretary of the Swedish Childhood Cancer Fund. Ms. Ducellier was previously the CEO at Pernod Ricard Sweden and a management consultant at McKinsey & Company.
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